Share Of Working Adults Age 65 And Older Has Tripled Since 2001

Americans age 50 and older are still working and impacting the U.S. economy in a big way, according to a new report from AARP. In fact, labor force participation is growing fastest among people 65 and older.

People 50 and older produced an estimated $12.5 trillion in economic activity in 2024, supporting 98 million jobs. They also provided an estimated $1.2 trillion in unpaid care and volunteering that year, according to the AARP’s 2026 Longevity Economy Outlook report, released earlier this month.

The share of working adults age 65 and older has tripled over the past 25 years, and the share of adults who are 75 and older in the workforce is expected to double by 2060, according to the report.

Some senior housing companies have added dedicated workspaces to their communities to accommodate residents working later in life. For example, active adult operator Treplus Communities builds business centers into its properties to cater to those needs.

Older adults’ economic impact accounted for 43% of the country’s gross domestic product, up from $8.3 trillion in 2018, and are attributed to driving growth in the health care and financial services sectors. According to the AARP Foundation, around one-third of this population live in poverty or are at risk of falling into it while housing expenditures have increased 12% since 2018.

“Rising housing costs are pushing some older adults toward cheaper areas with more limited access to health care, transport, fresh food and social infrastructure,” the report’s authors wrote.

That impact is only expected to continue growing with the rapidly aging population. By 2060, adults 50 and up will make up around 41% of the population, up from the current 36%, and their economic impact is expected to nearly double to $24 trillion, according to the report.

This population is expected to change state economies and labor markets in the near future as well, with the report noting Utah, Texas, Idaho, Colorado and Arizona could be among the most affected with their younger populations.

Not only are people living longer, they’re working longer. There were around 54 million adults aged 50 in the workforce, making up around a third of the total labor force.

“Some people are working longer because they love their job and they want to work longer. They find value in the work they do,” Debra Whitman, AARP chief public policy officer, said in the release. “Yet, others are working longer because they have to. They need to work in order to make ends meet.”

The report notes that “broad-based solutions are needed to make housing better suited to allow Americans 50 and older to age in place.”

“The decisions we make now will shape not only how we age but the future strength and resilience of our economy and society,” Myechia Minter-Jordan, AARP CEO, said.

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